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About Beach Energy (ASX:BPT)
Beach Energy Limited is an ASX-listed oil and gas company headquartered in Adelaide. It explores for, develops and produces oil, natural gas, LPG and condensate from onshore and offshore permits in Australia, including interests in the Cooper, Otway, Bass and Perth basins. It also holds interests in gas processing plants and contracted LNG processing capacity.
Beach Energy (ASX:BPT) announced its FY26 full year results, reporting production of 19.4 MMboe supported by the 250 TJ/day Waitsia Gas Plant, which reached nameplate capacity in April. Sales revenue was $1.8 billion, including $343 million from six LNG cargoes, with the average realised gas price up 7% to $11.5/GJ. Underlying EBITDA was $1.0 billion and underlying NPAT was $355 million. Field operating expense fell 3% to $244 million, including Waitsia operations in FY26, and the company generated positive all-in free cash flow of $146 million. Beach said its free cash flow breakeven outperformed its US$30/bbl target, that it achieved a 100% success rate from the first nine oil appraisal and development wells drilled in the Western Flank, and that it recorded 18 months recordable injury free across all assets with no Tier 1 process safety events since 2020.
The Board declared a final fully franked dividend of 2.0 cents per share, taking full year dividends declared to 3.0 cents per share, under a revised capital management framework that Beach said prioritises balance sheet strength. The company reported $983 million in available liquidity and net gearing of 10.6%, and said the sale of the VIC/L35 permit enabled more than $500 million of near-term capital to be redirected while retaining economic exposure through a production royalty. At 30 June 2026, 2P reserves were 156 MMboe, down from 173 MMboe a year earlier, with the decrease due to production of 19.4 MMboe partially offset by positive net revisions of 3.1 MMboe; 1P reserves were 82 MMboe and 2C contingent resources 174 MMboe. FY27 guidance is for production of 19.5 to 23.0 MMboe, total capital expenditure of $600 to 700 million, sustaining capital expenditure below $450 million, abandonment expenditure of $100 to 140 million and depreciation and amortisation, excluding corporate depreciation and amortisation, of $500 to 550 million. Beach is targeting a final investment decision in H1 FY27 for a two-well nearshore Otway drilling campaign.
Source: Beach Energy Limited (ASX:BPT), 6 August 2026. Summary content supplied by Digifin Pty Ltd.
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